Jewelry shopping has already seen a hit this year due to the recession, but nevertheless, “Diamonds are a girl’s best friend” still holds true. Even Barack Obama will agree with it, and that pretty much explains his choice of gift for his wife, Michelle.
A spokesman for top Italian designer Giovanni Bosco has confirmed that President-Elect Barack Obama is looking to purchase a $30,000 Harmony ring made of rhodium and encrusted with diamonds to say “thanks for your support”.
We expect the future First Lady to receive the ring in time for her husband's January inauguration ceremony. The gift is a thank you for her support throughout the last two years of campaigning.
One of the world's rarest and most precious metals, only about 25 tons of rhodium are mined each year, setting the price at over $7,660 per ounce -- or about ten times the cost of gold. The ring may be uncharacteristically extravagant for Mrs. Obama, but we're sure she'll find a way to wear it with all her usual grace and confidence.
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